If I Lose My Home to Foreclosure in Connecticut, Can I Get It Back?

In Connecticut, you can't get your home back by redeeming it after the foreclosure. Instead, you have up until the "Law Day" in a strict foreclosure or until the court confirms the foreclosure sale in a decree of sale foreclosure to redeem the property.

What Is the Right of Redemption After a Foreclosure Sale?

In about half of the states, homeowners get one final chance to save their home, even after a foreclosure sale. The right to redeem the property after a foreclosure sale is called a "statutory" right of redemption because it's set out in the state statutes (laws).

Suppose your state provides a statutory right of redemption. In that case, you get a redemption period, which is a limited amount of time to repurchase the home from the person or entity that bought it at the foreclosure sale. Depending on state law, you must either reimburse the purchaser for the price paid at the sale or pay off the full amount you owed on the mortgage loan, plus foreclosure fees and costs.

Basically, the redemption period gives you some additional time after the foreclosure sale to find funding to buy your home back. The length of the redemption period following the sale, if available, varies widely depending on state law and the particular circumstances.

No Right to Redeem After a Foreclosure Sale in Connecticut

Unlike some other states, Connecticut law doesn't provide a redemption period for foreclosed homeowners after a foreclosure sale. Instead, the redemption period happens before the Law Day (applicable to strict foreclosures) or before the sale (decree of sale foreclosures).

How Do Foreclosures Work in Connecticut?

In Connecticut, lenders may foreclose through one of two judicial procedures: strict foreclosure (where the court transfers title directly to the foreclosing party without ordering a sale) and a decree of sale foreclosure (where the court orders a foreclosure sale). In a nutshell, here are the rules regarding redemption, which are explained in more detail below:

• Strict foreclosure. If the foreclosure is a strict foreclosure, the court will set a specific date, a "Law Day," which is the last date you can redeem your home.
• Decree of sale foreclosure. In a decree of sale foreclosure, also called a "foreclosure by sale," you can redeem the home until the court approves the sale.

Most foreclosures in Connecticut are strict foreclosures.

Rights of Redemption in a Strict Foreclosure in Connecticut

In a strict foreclosure, the court sets the redemption period, which is the time between the judgment and the Law Day. The Law Day can be as soon as 21 days after the court enters a judgment of strict foreclosure, but it's typically between 45 and 90 days after the judgment. If you don't redeem by the Law Day, you lose ownership of the home. (Conn. Rules Superior Ct. Rule 23-17).

You can request that the judge extend the Law Day by filing a motion with the court. The motion must be filed and heard before the Law Day. If you're unsure about when your Law Day is, call the court clerk.

Rights of Redemption in a Decree of Sale Foreclosure

If the court orders a foreclosure sale, you can redeem the home between the judgment and the sale date, usually lasting 60 to 90 days. You can also redeem the home during the time the court takes to confirm the sale, usually 14 to 30 days. Once the sale is final, you can't redeem. (Conn. Gen. Stat. § 49-25, Washington Trust Co. v. Smith, 241 Conn. 734, 742 (1997)).

What Are the Costs Involved in Redeeming a Home?

To redeem, you must pay the full judgment amount, plus all other lawful charges such as interest, attorneys' fees, and costs. Check with the court or consult with a Connecticut attorney to learn the procedure for redeeming your home.

What Happens If I Can't Afford to Redeem My Home in Connecticut?

Most homeowners who are going through a foreclosure don't have enough money to redeem. You might have other options for saving your home. But because foreclosures in Connecticut only take a few months to complete, you should be sure to explore alternatives to foreclosure as soon as possible. For example, you could reinstate the mortgage loan by catching up on the past due amounts. Even though Connecticut law doesn't give homeowners the right to stop a foreclosure by reinstating the loan, your mortgage contract might provide this right. Or your lender might agree to let you complete a reinstatement.

Another possible option is to arrange a foreclosure alternative with the lender that would allow you to stay in the property, such as a mortgage modification or repayment plan.

Also, you might want to check out the Connecticut Housing Finance Authority (CHFA), which offers foreclosure prevention programs to homeowners facing foreclosure in Connecticut.